Although the tape seems a little heavy, it doesn’t mean there isn’t opportunity for stock pickers. Add a little risk management and there are levers to pull for people who want to take action today.

At the beginning of this week, Dominion Energy (D) – yes, the sleepy utility giant that yields a ~4% dividend – opened above it’s 200-week (not day, week) SMA for the first time since October 2022.

This is not financial advice nor a solicitation of any kind; this is an informational video meant to showcase a bullish breakout above the 200-week simply moving average.

Full disclosure, I will be entering D with orders to buy on-the-close and using a weekly close below the 200W SMA to manage my downside. As for the upside, I see $70 as achievable over the next 3-6 months, at which point I will remove some – but not likely all – of the position. That said, for a technical standpoint, you can certainly stay long this name as a “trade” so long as the stock maintains the 200W.

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